Research On The Comprehensive Benefits Of A Large City Complex Projects Of Commercial Activities

The comprehensive benefits of city complex project are the criteria to measure the successof project development. On the premise of development environment and conditions established,the commercial activities have become one of the most important factors which effects on theproject. It is also a key factor in project decision for developers. There is very few systematicand standard criteria in the process of contemporary real estate development in China. And itcauses that the determination of commercial activities is prone to be effected by some subjectivefactors, or easily changed by the will of decision-making body. Therefore, this paperpresents the research on the comprehensive benefits of commercial activities for city complexprojects. Through the establishment of a sophisticate evaluation system, this researchwill provide a scientific, reasonable decision support for large city complex projects in theproposal of commercial activities.In this paper, the theory and evaluation methods of real estate are reviewed. And the realestate characteristics, investment portfolio and common evaluation methods are studied. Alsothe characteristics and needs of stakeholders are analysis. All of those basic studies provide asolid theoretical basis for the proposed evaluation method. The article selects the method offuzzy hierarchy analysis, which combines the advantages of the fuzzy comprehensiveevaluation method and hierarchy analysis method, to construct a2-level evaluation systemcomprehensively and systematically. According to the characteristics of the large complexprojects, the article analyses the main influence factors, such as the total project investment,project cycle, sales revenue and tax, project investment plan, project financial evaluation,sensitivity, and promoting urban development and urban area, developing related industries,promoting social stability and security, promoting social civilization, environmental protection,economical and intensive index, etc., finally determines the17evaluation index, from the threeaspects of economic benefits, social benefits and environmental benefits, which includes returnon total investment, financial internal rate, payback period of investment, project financing ability, project resource utilization, risk aversion in the aspect of economic benefits; increasingemployment opportunities, improving the level of urbanization, promoting national economicgrowth, the degree of industrial upgrading, adaptability to society and culture, perfectsupporting services, the project adaptability in the aspect of social benefits; the utilization ofgreen materials, pollution emissions/control treatment, urban landscape, urban traffic in theaspect of environmental benefits. With the consideration of the project profit and effects onurban function, according to the study of various of indexes and the relevant specification,evaluation data range of17indexes is divided into five grades-excellent, good, medium,qualified and unqualified, then the weight distribution of17indexes is determined, through thetwo-level-judgment matrix and the consistency test, finally the index score is calculate to obtaincomprehensive benefits. A comprehensive benefit evaluation system of commercial format isconstructed.This paper takes the QS project as an example, utilizes the evaluation system to choose thepreference in the two commercial activities proposals through comprehensive effects evaluation.In order to compare with the conventional and the investment scheme,10experienced expertsare selected to score the17index on economic, social and environmental evaluation, andoptimal selection will be the one with highest score in the results. According to the example, theuse of evaluation system provides a comprehensive, objective, scientific and effectivedecision support for the developer. Finally, the main conclusions of the research aresummarized, and some possible future research prospects are put forward.